PAYMENT SYSTEMSAYM ENT SYS PAY LOWER OPERATING COSTS


VMC is also seeing a surge in demand for flexible open payment solutions, which MD Nick Bate says is hardly surprising when the latest report from trade association UK Finance showed the contactless payments have doubled compared with last year and the number of cash transactions are rapidly declining.


“Combine that with the fact that operating costs for contactless (now under 3%) are lower than the cost of managing cash (over 4%), plus the added potential for increased sales through convenience and impulse buys, it’s easy to see why contactless is appealing to vending operators,” Nick says.


VMC is the exclusive UK distributor for the Vendotek payment terminal providing a rapid and cost-effffec said to be easily installed using


operates solution,


just one external box and tive open payment


using a 3G SIM meaning it has no cabling costs either. Nick says: “Transactions are satisfyingly fast for users, and for operators and facilities managers it provides a reliable payment hat requires minimal maintenance and also offffers valuable data.”


reporting method t


TRUE CONNECTIVITY


SB Softftware MD Simon Black believes change is coming rapidly and even though it may feel as if cashless and contactless have exploded onto the scene very recently, these innovations have been ready and waiting technologically, but waiting for the righ t infrastructure/investment to be in place .


“shake their heads” when met with cash payment being their only option.Mr Lee’s adopted cashless into its noodle machines right from day one and is very happy with its feedback.


MOBILISED


Nayax, the cashless payment solution specialist, believes the future of the cashless world is in mobile payments as smartphones become increasingly deep-rooted in our lives and that it’s a natural progression for financial payments to be integrated into this sphere. Lewis Zimbler, operations director, Nayax UK, says the market is flooded with a lot of different mobile payment apps, and Nayax’s goal is to ensure vending operators can offer all the major and minor cashless payment options on the market. Besides big name mobile payment apps like Apple Pay, Google Pay, and Samsung Pay, Nayax also works with country-specific apps like Swish,MobilePay, T, Alipay,WeChat Pay and LoyLap.


ff ff


Lewis predicts: “A Interac, Paytm, TWI


NT, “As consumers get accustomed to using digital


means to control finances, cash will play a less prominent role in their lives, and as such there will be increased numbers of people choosing not to carry cash. This means vending operators will need to offff er a cashless payment option to prevent their bottom-line from being affff ected.With cashless payment as the norm, vending operators and facility managers alike can also gain from the organisational benefits of a cashless payment system like tracking sales, checking on inventory statuses or analysing consumer trends.” An example of a mobile enabled payment facility which has emerged in response the public’s love affffair with their phones and their desire to do as much as possible using them, was showcased by Zerica / BeviLaNatura at Venditalia and Vendex Midlands this


To year.


To use the Zeric a / BeviLaNatura solution, you download a user- friendly app, load up your electronic wallet via PayPal, choose your drink and you’re away. Apart from viewing your credit balance and accessing your purchase history, the app also ffoffers feedback on any part of the experience: an intelligent way to help guide improvements, capture ideas and spot the trends of the future .


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“Now we have crossed that threshold.We are making the first transition beyond ‘hard currency’ alone to the beginnings of true connectivity. And there’s no going back.” “A


SY YSTEM S


He concludes: “As we advance, we won’t see such long gestation periods before innovations take hold because all data has value as soon as it is unleashed for those who are ready and fleet of foot. If you’re not connecting things up yet and putting data to work for you, you risk being leftft behind.”


CONCLUSION


Undoubtedly there is still a place for cash and customers who want to use it should not be disappointed, however there is a clear trend towards cashless payments, whether mobile or electronic. For vending operators, embracing cashless payments methods and keeping a watchful eye on what’s to come in the future is a no brainer and critical to keeping an edge in a competitive world.


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